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Saturday, November 01, 2008

$4.2 TRILLION Obama expects your children and grandchildren to pay for... so you don't have to.


These 2 charts are compilations of Obama's own numbers and statements and the assessments thereof from the Urban-Brookings Tax Policy Center (TPC), The Committee for A Responsible Budget (CFARB) (which in turn used The Congressional Budget Office, the Tax Policy Center and Congress' Joint Committee on Taxation), the pro-Obama Lewin Group and The Cato Institute's economist Senior Fellow Alan Reynolds, who wrote this article in the Wall Street Journal earlier this week, which was taken from this analysis called "Taxes & Deficits - a 2008 Perspective."
OBAMA's "PAY FOR EVERY DIME" PLAN for his New Spending
WHAT OBAMA WANTS US TO PAY FOR:SINGLE YEAR: 201310 YEAR COSTS BY 2018
Extend Most 01, 03 Tax Cuts-294 Billion-2.94 TRILLION
Expand Health Care-115 Billion-1.63 TRILLIONTPC estimates
Tax Rebates, Assistance-85 Billion-850 Billion
Invest in Green Tech-15 Billion-150 Billion
Close "Doughnut Hole"-43 Billion-430 Billion
Cut Corp. Taxes-13 Billion100 BillionTbl1: Reynolds
Patch AMT-106 Billion-1.06 TRILLION
R&E Tax Credit Permanent-10 Billion-100 Billion
Refundable Mortgage Credit-13 Billion-126 BillionTbl4:Reynolds
Making Work Pay Tax Credit-72 Billion-710 BillionTbl4:Reynolds
Eliminate Taxes for Seniors-7 Billion-70 BillionTbl4:Reynolds
Expand Earned Inc Tax Credit-5 Billion-46 BillionTbl4:Reynolds
Saver Credit, Auto-Saving-21 Billion-203 BillionTbl4:Reynolds
College Tax Credit-13 Billion-139 BillionTbl4:Reynolds
Childcare Tax Credit-3 Billion-23 BillionTbl4:Reynolds
PreK-12 EdSpending-18 Billion-180 Billion
Infrastructure Reinv.Bank-6 Billion-60 Billion
New Spending, Research-15 Billion-150 Billion
More Higher Ed support-9 Billion-90 Billion
Double Foreign Aid-25 Billion-250 Billion
Increase Military-20 Billion-200 Billion
TOTALS:-908 Billion-9.307 TRILLION

OBAMA's "PAY FOR EVERY DIME" PLAN for his New Spending
HOW OBAMA SAYS HE'S PAID FOR IT:SINGLE YEAR: 201310 YEAR REVENUES BY 2018MORE ACCURATE SOURCES/
DETAILS
THE MORE ACCURATE 10-YEAR REVENUES
Up Taxes on Higher Earners48 Billion781.2 BillionTbl1: TPC, Reynolds185 Billion
Up Capital Gains/Divid.Tax28 Billion166.8 BillionTbl1: TPC, Reynolds30 Billion
Smaller Estate Tax44 Billion440 Billion440 Billion
Close Loopholes, Shelters75 Billion750 BillionTPC: Tbl R2: "UNVERIFIABLE"; Tbl1: Reynolds300 Billion
Fix Govt Spending17 Billion170 BillionTPC: "UNVERIFIABLE"; Tbl1: Reynoldsincl. in above #
Cap-and-Trade System100 Billion1 TrillionCFARB1 Trillion
Withdraw from Iraq156 Billion1.56 TRILLION1.56 TRILLION
No Wasteful Spending20 Billion200 Billion200 Billion
Reduce Govt Contracting40 Billion400 Billion400 Billion
Nix Education Loans4 Billion40 Billion40 Billion
Tax Interest as Earned Inc.2 Billion20 Billion20 Billion
Lower H/C Costs50 Billion500 Billion500 Billion
Lower Medicare Costs43 Billion430 Billion430 Billion
TOTAL WAYS OBAMA SAYS HE'LL PAY FOR IT:$627 BILLION$6.458 TRILLION$5.105 TRILLION
THE SHORTFALL:-$281 Billion-$2.85 TRILLION-$4.2 TRILLION


Where no source is noted, data is from TPC, CFARB, Lewin Group, all their sources, Obama, or combinations thereof. OTHER NOTES, SOURCES LISTED AT END

$6.458 trillion in new revenues MINUS $9.307 trillion in new spending = $2.85 trillion shortfall unpaid-for.

$5.105 trillion in new revenues MINUS $9.307 trillion in new spending = $4.202 trillion shortfall unpaid-for.

Even if you allow Obama, TPC, CFARB, et.al. the "unverifiable" figures and blind acceptance of Obama's numbers, OBAMA'S OWN NUMBERS DON'T PAY FOR $2.85 TRILLION OF HIS NEW SPENDING OVER THE NEXT 10 YEARS.

However, including more objective financial analyses, Obama hasn't "paid for" an estimated $4.2 TRILLION to cover his new spending, over and above the current deficit and paying for Social Security and Medicare as they stand today.

Who do you really think he'll have to tax to make up that difference?

It's either you, or your children and grandchildren down the road.


Remember, Congress' ratings are worse than GWB's and Congress has never met a tax or spending increase it didn't love. Whether Obama stays in office past one term or not, you know that once the government gets its hands on all that spending, it won't give it back. Ever.

As Reynolds himself said in his analysis: "None of the Reynolds estimates is intended to be precise, nor should any 10-year budget estimates be considered more than rough approximations." In fact, several categories above can only extrapolate a 10 year estimate from a single year (2013). Obama's projections of savings or revenues in years both before and after 2013 could be either lower or higher. No one, not even Obama, can predict all of this. While it is imperfect, it is still the best way to evaluate the level of truth in Obama's audacious claim that "I pay for every dime."

The plain facts--the best estimates of many esteemed economists and tax experts
--indicate that Obama cannot pay for every new-spending dime he wants the government to spend over the next 4 to 10 years.

He cannot pay for 42 trillion dimes.


It all seems like funny money to talk in such huge numbers, but here it is with the zeroes:

$4,202,000,000,000.00

That's four trillion, two-hundred and two billion dollars Obama cannot pay for over the next 10 years.

Even if he taxed "the rich" at 100% he couldn't pay for it all.

First he promised taxcuts and/or no tax increases to all those making under $250,000 a year. (For those who'd argue I have it wrong, ask 10 people on the street in any blue-leaning state. At least 9 will say that "Obama's going to cut my taxes or give me money back if I make under $250k" and he lets them believe that.)

Then that magic number moved down to "under $200,000."

Joe Biden moved it down to "under $150,000" just this past week.

Obama will have to keep lowering that safety ceiling, to under $100,000, under $75,000, under $50,000 perhaps, and yet the whole nation voting for him next Tuesday is willing to do that.

Don't take my word for it. Listen to the man in his own words:

"We all need to sacrifice...It's all gonna cost us...All of us are going to contribute, all of us are gonna have to sacrifice."
[at 8:50 and 9:35]

It's so ironic that Obama and his entranced followers rail against "the failed economic policies" of the last 8 years.

You're about to vote for another "failed economic policy," one which you can see how it will fail even BEFORE you vote for it.

You think the last 8 years were bad for you and for the economy? You ain't seen nothing yet.

Don't say you were not warned.


NOTES/OTHER SOURCES
  1. "When CFARB 'ran [Obama's] numbers', they relied almost entirely on unverifiable numbers eagerly provided to them by the Obama campaign. That explains why their list of Mr. Obama's new spending plans is so much shorter than the National Taxpayers Union fully documented list. But nothing quite explains why even the vaguest promises to save money are recorded by CFARB as if they had substance.

    "Mr. Obama has also promised to spend more on 176 other programs, according to an 85-page list of campaign promises (actual quotations) compiled by the National Taxpayers Union Foundation. The NTUF was able to produce cost estimates for only 77 of the 176, so its estimate is low. Excluding the Obama health plan, the NTUF estimates that Mr. Obama would raise spending by $611.5 billion over the next five years; the 10-year total (aside from health) would surely exceed $1.4 trillion, because spending typically grows at least as quickly as nominal GDP."

  2. CAP & TRADE CARBON TAX: "The effect on U.S. families and firms would be like a steep tax on electricity, gasoline and energy-intensive products such as paper, plastic and aluminum."

  3. "In his acceptance speech at the Democratic convention on Aug. 28, Mr. Obama said, 'I've laid out how I'll pay for every dime -- by closing corporate loopholes and tax havens.' That comment refers to $924.1 billion over 10 years from what the TPC wisely labels 'unverifiable revenue raisers.' To put that huge figure in perspective, the Congressional Budget Office optimistically expects a total of $3.7 trillion from corporate taxes over that period. In other words, Mr. Obama is counting on increasing corporate tax collections by more than 25% simply by closing "loopholes" and complaining about foreign 'tax havens.' Nobody, including the Tax Policy Center, believes that is remotely feasible."

  4. Regarding saving by importing more foreign drugs and requiring more drug firm bargains: "Yet even proponents of [Obama's] approach such as The Lewin Group [ALSO SEE THIS POST] find that cannot save more than $6 billion a year." So this difference, $37 billion, comes from what Obama calls "'additional measures as necessary' (more taxes?)"




[apologies for keeping this non-extended format. I felt it was too important to split up into another page that far too many would not bother to click through to read.]

Cross-posted on ProLifeBlogs.com, referenced by this post.
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NATIONAL REVIEW Online's The Corner ~ Kathryn Jean Lopez links to Ap blog, 1/22/07

Associated Press/San Francisco Chronicle: Banno On Boxer and the Illegal Abortion Deaths Urban Legend

San Diego Union Tribune: more Boxer Urban-Legend-Debunk coverage

Ellen Goodman retraction impetus: Aa blog initiates The Straight Dope coverage...and is listed in National Review Senior Editor Ramesh Ponnuru's book The Party of Death, p. 255, Chap. 3 Endnote #11,   4/2006

NY Daily News: "Atheist's Site Is All The Rave

"After Abortion,...run by Emily Peterson and Annie Banno, two women who had abortions in the 1970s, ...tries to avoid the political tug-of-war that tends to come with this turf. They concentrate instead on discussing the troubling personal effects of abortion on the mothers." ~ Eric Scheske, Godspy contributing editor, in NC Register's "Signs of Life in the Blogosphere", 2/2006

"Godbloggers could, in the best of worlds, become the new apologists...[including] laymen with day jobs: Emily Peterson and Annie Banno, for instance, at the blog After Abortion..."~ Jonathan V. Last, The Weekly Standard online editor, in First Things's "God on the Internet", 12/2005

Amy Welborn, at BeliefNet, links to AfterAbortion blog's Crime & Abortion Series

Catholic News Service: Silent counterprotest at the March For Choice



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PREGNANT? UPSET? SCARED?
4,800 confidential groups helping now.
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We are too. Here are folks who can help:

Feeling Really Bad?: Call
1-800-SUICIDE (784-2433)
& a friend, right now.

Suicide Hope Lines: U.S.A. (by state) or call 1-800-Suicide (784-2433)

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UK, ROI: 08457 90 90 90 , www.samaritans.org.uk

Suicide Helplines in over 40 other countries

George & Linda Zallie, Stacy's parents, "assisting women who made the difficult choice of ending their pregnancy in finding nonjudgmental help" for suicidal feelings.

For immediate help, call tollfree, 24 hours a day, 7 days a week: national, confidential, post-abortion-recovery hotlines:
1-877-HOPE-4-ME or
1-866-482-5433 or
1-800-5WE-CARE

...more help below...

AbortionChangesYou.com

"I would now like to say a special word to women who have had an abortion...[many are] aware of the many factors which may have influenced your decision, and [do] not doubt that it was a painful and even shattering decision. The wound in your heart may not yet have healed. Certainly what happened was and remains terribly wrong. But do not give in to discouragement and do not lose hope. Try rather to understand what happened and face it honestly. If you have not already done so, give yourselves over with humility and trust to repentance. The Father of mercies is ready to give you his forgiveness and his peace...You will come to understand that nothing is definitively lost and you will also be able to ask forgiveness from your child..."

MORE HELP:
Hope after Abortion
Ideas for Healing
Rachel's Vineyard Retreats
(non-Christians, even non-religious do attend; they also have interdenominational retreats designed expressly for people of any religion or no religion)
Abortion Recovery
"Entering Canaan" - a ministry of reverence for women and men who suffer following an abortion
Lumina - Hope & Healing After Abortion
Ramah
Option Line
Books that help
(includes non-religious Post Abortion recovery books)
In Our Midst
NOPARH
For MEN - Resources List
     ** UPDATED 2015 **

Message boards, chat rooms &
   e-groups ** UPDATED 2015 **

Regional & local resources
         ** UPDATED 2015 **


Silent No More Awareness Campaign
After Abortion
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  4. Criminal "fugitive", media-ignored Hsu
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Obama On Abortion: A Summary 1990-2009

1) Obama Is 2nd-Highest-Paid Politician by Fannie Mae, Taking $126,346 in only 4 years as Senator; Now Derides GOP/Bush for Allowing Fannie Mae/Freddie Mac To Do Business, When It Was Democrat Presidents Bill Clinton & Jimmy Carter Who Passed The Law Requiring Fannie & Freddie To Give Out Bad Subprime Loans To Those Who Couldn't Afford Them, Which Caused The Entire Financial Meltdown … 2) Jim Johnson (Obama VEEP vetter and former Fannie Mae executive who made millions there) Backpedal … 3) Obama's hiring, connection, support of ACORN, which supported that very law and whose staff have been involved in voter fraud … 4) Rezko's Favor A "Boneheaded" Mistake … 5) Jeremiah Wright Backpedal … 6) Fr. Michael Fleger Backpedal … 7) NAFTA Backpedal … 8) Campaign Financing Backpedal … 9) Mr. "Negotiates-With-Terrorist-States" … 10) Bittergate … 11) Hamas' Chief Political Adviser Hopes BO Will Win Election … 12) Banning Handguns Backpedal … 13) Who Exactly Are "The Rich" He's Going to Sock it to? … 14) Flag Pin Backpedal … 15) Once Open to School Vouchers That Work, Now Deadset Against … 16) Now OK with residual force in Iraq...up to 50,000 troops. … 17) First voted against a law protecting babies who survive an abortion procedure, then lied saying he didn't, then finally forced to admit that he did vote to deny such born babies protection. 18) … "For the first time in my adult lifetime, I am really proud of my country." ~ MO

Region-specific blogs of note: Washington, Midwest, California, Connecticut, Canada (adding as we get the time)



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